Housing Stats
National sales of existing homes experienced a small decline in May with home prices rising near normal rates, according to the National Association of REALTORS. However, Colorado home sales continue to experience a steady climb since January 2006.
David Lereah, NAR’s chief economist, said conditions are mixed around the country. “There’s now a clear pattern of slower home-sales activity in many higher cost markets, which are more sensitive to rises in interest rates, and higher home sales in moderately priced areas which have experienced job growth,” he said. “Although mortgage interest rates remain historically low, the uptrend in interest rates this year is affecting those buyers who are at the margins of affordability.”
According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage was 6.6 percent in May, up from 6.51 percent in April; the rate was 5.72 percent in May 2005.
Single family home sales in Colorado rose approximately 20 percent from 6,769 to 8,154 with the state median rising approximately 6 percent from April to May. Condos and Town homes in May saw an 11 percent increase in both number of units sold and median price from April to May in 2006.
| April |
May |
||
| Sold Median |
Sold Median |
Change % |
|
| Metro District |
3368 $251,176 |
3971 $252,383 |
18% 0% |
| Glenwood Springs |
88 $244,000 |
98 $294,444 |
11% 21% |
| Grand County |
28 $400,000 |
33 $357,692 |
18% 11% |
| Gunnison |
19 $450,000 |
33 $285,000 |
74% -37% |
| Steamboat Springs |
17 $450,000 |
32 $385,714 |
88% -14% |
| Summit |
90 $475,000 |
131 $476,667 |
46% 0% |
| Telluride |
1 $1,500,000 |
4 $2,000,000 |
300% 33% |
| Boulder/Longmont |
326 $374,667 |
392 $379,167 |
20% 1% |
| Estes Park |
16 $300,000 |
18 $360,000 |
13% 20% |
| Ft. Collins |
224 $219,403 |
311 $231,649 |
39% 6% |
| Greeley |
311 $189,149 |
568 $215,925 |
83% 14% |
| Logan |
17 $85,000 |
35 $82,500 |
106% -3% |
| Loveland |
155 $243,571 |
184 $232,222 |
19% -5% |
| Morgan County |
32 $105,000 |
34 $125,714 |
6% 20% |
| Craig |
15 $157,500 |
30 $156,000 |
100% -1% |
| Delta County |
59 $167,778 |
63 $182,500 |
7% 9% |
| Grand Junction |
343 $176,200 |
354 $185,405 |
3% 5% |
| Montrose |
80 $177,333 |
90 $207,895 |
13% 17% |
| Chaffee |
44 $214,286 |
53 $194,000 |
20% -9% |
| Pikes Peak |
1059 $204,125 |
1264 $271,731 |
19% 33% |
| Pueblo |
263 $118,800 |
206 $120,870 |
-22% 2% |
| Royal Gorge |
94 $140,000 |
111 $136,667 |
18% -2% |
| Cortez |
34 $148,000 |
27 $165,000 |
-21% 11% |
| Durango |
64 $377,778 |
85 $355,769 |
33% -6% |
| Pagosa Springs |
22 $372,727 |
27 $268,056 |
23% -28% |
| State |
6769 $219,403 |
8154 $232,222 |
20% 6% |
